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Putin proposed to launch an industrial mortgage

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Russian President Vladimir Putin, speaking at the St. Petersburg International Economic Forum, proposed the creation of a special mechanism – industrial mortgage. According to the president, the new mechanism should start operating in the near future. According to the president, legal entities will be able to apply for a preferential long-term loan at 5% per annum. The right to an industrial mortgage will be given to an enterprise that has bought ready-made areas for production. In addition, Vladimir Putin instructed the government to prepare key parameters for a new mode of operation of industrial clusters by autumn, including in terms of financing. The President said that manufacturers in industrial clusters should receive preferential loans for up to 10 years at a rate of no more than 7% per annum. According to the president, industrial clusters should start operating from January 1, 2023. The President also instructed to launch tools for long-term contracts between state-owned companies and small and medium-sized businesses in order to guarantee demand for enterprises. The news is being supplemented. .

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